"We are internally conducting a study on when we should suspend the PDP business," said Ha Hyun-hwoi, who heads LG's home entertainment division. "We will make an official announcement on the issue in the future."

Samsung SDI Co., a battery arm of South Korea's top conglomerate Samsung Group, already announced last month it will stop its PDP production at end-November and instead focus on its materials and energy businesses.

Industry tracker DisplaySearch predicted global shipments of PDP TVs will plunge to 5 million units in 2015 from 10.3 million units in 2013.

China-based Changhong Electric Co. will become the only major company that produces PDP TVs if LG follows the path of Samsung SDI.

Samsung SDI said it launched a voluntary retirement program last month after it shut down its PDP business. LG said it hasn't decided the full details of its suspension plans, but watchers say it may also undertake similar restructuring.